Buying from a fixed vendor allows you to save administration time, but does not ensure optimum quality and economical cost because of a vendor’s monopoly.

Inviting tenders from a few or many prospective vendors, where these suppliers could have been previously shortlisted and vetted. So one could easily pick the most economical option that covers all the requirements.

Engaging with vetted suppliers who are first invited to share their inputs without pricing. Based on these inputs from these vetted vendors the final requirements and base-line for procuring is set. Then the second round is where further shortlisted 3 to 5 suppliers are invited to quote prices based on the final requirements document. Further you may have a discussion with the L1, L2 and L3 vendors and finalize the one with more softer attributes that match the requirements such as good service levels, location, etc., or simply split volumes between 2 or more supplier that are willing to match L1’s pricing.

Integrated Sourcing is when you prepare a brief requirement statement with references and in conjunction with your procurement team appoint a sourcing partner who possesses the knowledge and experience required to source the best and most economical supplies from around the world, who then uses their global network to provide you with countless options, even when conventional choices seem non-viable, they help you delve into the finest details to identify the perfect fit for your procurement requirements.

At Proca Integrated World Solution Limited we specialize in helping businesses make informed procurement decisions. Contact us today to explore these procurement methods and take your B2B sourcing strategy to the next level.